Markets bled red as the Straits Times Index (STI) slid to 4,812, with banks and blue chips, from DBS and UOB to Singtel and SIA, leading the losses. Over $3.6 billion in value changed hands, but confidence was harder to find.

On Market View, Sean Cheong speaks with Dan Chang of Philip Securities to break down what’s really driving the sell-off, and whether Singapore is more vulnerable than investors think if global tensions escalate further.